Economy of Pakistan In 2010, Economic Growth, Issues And Solutions
Economy of Pakistan.
Pakistan economic growth faced a serious set back in fiscal year 2009 because of the depressed consumer credit market, slow progress of public sector programres, inflation, reduction in subsidies, security threat, instability in the state and energy crisis. Additionally, no attention was given to the agriculture sector. The exports declined by six percent and imports by 10 percent. The only thing that became a silver linning was the increment in remittances by 22%. Apart from ignorance, agriculture sector has shown credible results because of good weather. Major crops, wheat, rice and maize recorded impressive growth i.e 7.7% against the target of 4.5%. Live stock and poultry also add to GDP as there was no viral disease this year.
Shortages of energy and power donot let the boom entered into the industrial sector. In addition the sanction applied by IMF on different sectors creating a hurdle. This resulted in unemployment and services sector decline. Because of security crisis the graph of investment do not take any surge. The beginning of declining in core inflation is a hopeful factor but the domestic inflation is on peak. There is a marginal improvement in health and educational sectors but the poverty in country rise Pakistan have the highest population growth. The largest population represents a large potential market for goods and services yet the condition are deplorable.
Being an agro based economy Pakistan should focus on the development of agriculture department. Financial sector should be developed. Instead in focusing to much on macro financing, micro financing must be given a chance. Trade deficits should be reduced. This can only be done by eradicating the trust deficit, which will boost our exports as well as imports. It will also bring FDI’s (Foreign Direct Investment) at home. There should be short term as well as long term policies. As Pakistan’s economy is dependent economy so it should be made strong enough to reject the foreign aid or loans on their conditions, which can directly or indirectly bring harm to the economy. Still the Government is unable to differentiate and reorganize the developed and non-developed budget. Solid fiscal policies should be made to give advantage to both, demander and supplier. This would also be beneficial for the skilled workers, who fly away from the land. Despite all these, there must be political, economic and social stability in the state. A proper accountability set up must be introduced to eradicate corruption as it leads to massive human deprecation. And the final solution of this problem is good governance.
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just the main reason for unemployment in pakistan is that the instability of political sector has create alot of problems for pakistan regarding economically.
econmy of pakistan 2009-2010 and
exclusive zon and about special zon and pakistna population i need plz if posible provied as
dear good governance is perfect solution of all problems but it is very difficult because every one has own intrest and saving thr chair .political environment als run in wrong directon.
Economy of Pakistan largely depends upon its Agriculture sector, better export quality of agricultural products….., just make sure that producers in this field are given due importance.
BASICALy law and order situation of pakistan deteriorated much during 2008-09.again we faced energy crisis during these years.Because of these and many other reasons ,private investors have been discouraged a lot.Unemployment and inflation rate is rising day by day.We have to overcome all these problems in order to stabilize our economy.
I think our country is suffering due to mis-administration and wrong economic policies. Our government should bound all MNCs to invest atleast 50% in our country directly and 25% in shape of procurement of Pakistani made products. Leaders and major investors should invest in own country instead of foreign countries
main reason of unemployment is that govt. don’t give due attention to this aspect.
the main thing is that the bone of pakistan economy karachi is under fire u know its effect all 0ver in pakistan.so the government should take hard decision and bring army in karachi.
The basic reason of underdeveloped countries is Terorrisom,this is the basic fear of our country PAKISTAN.